Salt Lake evening Democrat. [volume] (Salt Lake City, Utah) 1885-1887, 1887-02-07
BUSINESS AND MINING NOTES.
Timetable Coinage Association
Annual Report-The Yosemite
Mine-Sundry Items.

The first annual report OF the Secretary
OF the National Bimetallic Coinage Asso-
citation we find printed in the Leadville
Chronicle OF the oath ult. 1t will be re-
collected that in January 1885, silver
convention assembled at Denver, Col,
largely attended by delegates from
various parts OF the Union among which
were delegates from Utah. Out OF that
gathering grew the above mem
toned National Association, whose ac-
tive labor during the past year has
done much in enlightening the people
on the silver question. There have been
distributed through the agency of this
association $4,000 documents relating
directly to the necessity of silver coinage
and circulation. The chairman OF the
executive committee OF this association is
Prof. l.. +. Holden, of this city, and T.
7. Ferry, Esq, of Park City, is one OF its
members. About $4,000, contributed
for the most part by Utah and Colorado
parties, who were active workers in the
movement. This fund has been ju-
diciously and economically used in the
manner indicated, in the furtherance of
the main object proposed, to-wit: to
bring about the passage OF bill for the
free and unlimited coinage Of silver
The report alludes to correspondence
with distinguished European writers and
tinanciers, who recommended independ-
cnt action by the United States in con-
necton with the silver question. 70 wait
Tor inter-continental cooperation, rather
than to force it by speedy adoption OF
policy OF free and unlimited silver coin
age, is suicidal on the part of our Gov
eminent. This nation has it in its power
fr hrtr TO Al
silver as an equal factor with gold in the
metallic currency OF the world
With regard to the Association whose
report is herein but slightly drawn
upon, its success with but linn
tied means to rely upon, warrants
greater interest and additional financial
assistance as most potent instrument
tally in bringing about reform. Every
days continuance OF the shilly-shally
policy at present prevailing by which sill
yer is limited hampered and prevented
from playing its legitimate and necessary
part as money in the business OF the
country, is efiecting great injury to every
department OF business in the Nation.
In another column allusion is made to
the necessity OF competition, which is
the life of trade, in the buying of ores
In the Salt Lake market. As it is, the
ore producers bear the burdens i'm
posed by depreciation OF lead and
silver in the market. When lead drops
in the market are the charges for smelt- |
ing lessened? Is there disposition on
the part OF the furnace men to share the |
depreciation with the producers? These |
questions are pertinent, for they affect in |
their practical action the general pros
perlty. For instance it is reported that |
mines in Bingham, and we presume in
other camps, could greatly increase their
output were the prices for reducing the |
ore reasonably satisfactory to the miners.
Take the Yosemite mine, which is capa-
BILE OF shipping three times the ore which |
1t is now doing, provided the prices were
satisfactory, and note the result in
the number Of men employed, and the
amount of money discussed in the COM
munity. When trade is depressed and
prices oil products are low, it is but fair
that the various processes which handle
the raw material and fit it for market
should bear their share OF the burdens
incident to hard times.
The product of the Ontario mine for
the month OF January was 1873 bars of
bullion, Sl,0l7.GS fine ounces ore sales
nine lots, $73,9l7ll; a total for the
month OF $l25 ,0l3.79.
Gable advices report that the Saxon
Government has decided to stop opera
tons ut several silver mines that have
been worked for more than a century.
owing to the continued depreciation OF
silver.
Last year the Government bought $24.-
100000 worth Of silver bullion and coined
II into nearly 10000, 600 standard dollars.
The Government made profit OF $1,000.
200 on this coinage.
Experts are examining the mines at
Churchill, Sweetwater county in the in
-erest OF Chicago capitalists.
The Contention mills, fifteen miles
iouth Of Benson Arizona, resumed opera.
ions on the 2nd.
The mines at Lacateous, Mexico, pro.
luce $4,000 600 Il year in silver
EpANtsu "a ttutA,yg 90